SOURCE: Action Products International, Inc.

December 31, 2007 14:17 ET

Action Products Int'l Receives Notice of Final Ruling by First District Court of Appeals

ORLANDO, FL--(Marketwire - December 31, 2007) - Action Products International, Inc. (NASDAQ: APII) has received a ruling from the State First District Court of Appeals. The Appeals' ruling is pursuant to a hearing on appeal of the judgment entered by the Circuit Court for Alachua County, Florida, in a civil lawsuit against defendants Kid Galaxy, Inc. and its parent company Lung Cheong International Holdings Ltd., and Timothy L. Young. The circuit court ruling, in the amount of $5.1 million, bearing interest at 9% annually, was entered in favor of Action Products International, Inc. in November 2006. The defendants appealed the Court's ruling. The Court has received $6.1 million in escrow from defendants.

On November 30, 2007, the State Court of Appeals entered its decision affirming the Circuit Court's ruling. The text of the Appeal decision is as follows:

                                         IN THE DISTRICT COURT OF APPEAL
                                         FIRST DISTRICT, STATE OF FLORIDA

LUNG CHEONG                              NOT FINAL UNTIL TIME EXPIRES TO
INTERNATIONAL HOLDINGS                   FILE MOTION FOR REHEARING AND
LIMITED, TIMOTHY YOUNG and               DISPOSITION THEREOF IF FILED
KID GALAXY, INC., f/k/a LC
ACQUISITION CORP.,                              CASE NO.  1D06-6327
        Appellants,
v.
ACTION PRODUCTS
INTERNATIONAL, INC.,
        Appellee.
---------------------------------------------/

Opinion filed November 30, 2007.

An appeal from the Circuit Court for Alachua County.
Toby S. Monaco, Judge

Janet M. Courtney and H. Gregory McNeill of Lowndes, Drosdick, Doster, Kantor & Reed, P.A., Orlando, and Paul F. Hancock, Jonathan B. Morton and Melissa D. Sanchez of the Law Firm of Kirkpatrick & Lockhart Preston Gates Ellis, LLP, Miami, for Appellants.

Keith Mitnik of Morgan & Morgan, P.A., Orlando and Victor Kline of Greenspoon Marder, P.A., Orlando for Appellee.

PER CURIAM.

     AFFIRMED.

ALLEN, DAVIS, and BENTON, JJ., CONCUR.

About Action Products International, Inc.

Action Products International Inc. (APII), based in Orlando, Fla., is a consumer products manufacturer, emphasizing branded educational and positive leisure products. Action Products consumer brands span activities, arts, crafts, juvenile products and toy categories. Its products are marketed and sold to retailers and consumers.

Visit the Company's Web site at www.apii.com.

Forward-Looking Statements

Any statements that are not historical facts contained in this release are forward-looking statements. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.

Contact Information

  • Contact:
    Billie Anne Dinkel
    Public Relations Manager
    Action Products International, Inc.
    (407) 660-7221
    bdinkel@apii.com